Umicore Solvay sell SolviCore joint venture Toray

Umicore and Solvay sell SolviCore joint venture to Toray

6:49 AM, 1st July 2015
Umicore and Solvay sell SolviCore joint venture to Toray

BRUSSELS, BELGIUM: Umicore NV and Solvay SA said that they have sold their respective 50 percent stakes in joint venture SolviCore to Japanese chemical company Toray International Inc.

Since its inception in 2006, SolviCore has built up a strong portfolio of clients for its membrane electrode assemblies used in fuel cells and proton exchange membrane (PEM) electrolysis. SolviCore will benefit from Toray’s expertise in fuel cell materials and experience in mass production and will remain based in the Hanau-Wolfgang Industriepark near Frankfurt, they said.

Both Solvay and Umicore will continue to be active in the fuel cell material market. Solvay will focus on its core competence in advanced materials that will enable key innovation in the fuel cell industry for mobility, stationary and other markets. Umicore will focus on its core competence in catalysis and continue to develop and commercialize electro-catalysts for the fuel cell industry, the companies said.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


BASF opens online store on Alibaba in China

SHANGHAI, CHINA: BASF said it is making its solutions more accessible to small and medium-sized enterprises (SMEs) with its first online store on Alib ...

Read more
CB&I bags Mexichem-Occidental JV ethylene storage facility contract

THE WOODLANDS, TEXAS: Engineering firm Chicago Bridge & Iron Company (CB&I) said it has been awarded a contract valued at approximately $115 m ...

Read more
PPG completes $5 million-coatings plant expansion in Germany

WUPPERTAL, GERMANY: PPG Industries Inc said it has completed its $5 million-coatings manufacturing facility expansion in Wuppertal, Germany. The proje ...

Read more
Evonik now a pure specialty chemicals co; divests all stake in real estate firm

ESSEN, GERMANY: Evonik Industries AG said it has divested its remaining 10.3 percent stake in the residential real estate company Vivawest GmbH to RAG ...

Read more
BASF and Fraunhofer Institute to jointly develop electronic materials

LUDWIGSHAFEN/DRESDEN, GERMANY: BASF SE and Fraunhofer IPMS-CNT said that they will jointly develop innovative solutions for the semiconductor industry ...

Read more
Givaudan doubles savoury flavours production capacity in China

GENEVA, SWITZERLAND: Givaudan SA said it has officially opened its new savoury flavours manufacturing facility in Nantong, China, with an investment o ...

Read more